Wayne von Borstel

Wayne von Borstel and Development Associates International (DAI): The Impact of Charitable Work and Why It Matters

Wayne von Borstel and Development Associates International (DAI): The Impact of Charitable Work and Why It Matters

Whether you are a private citizen or representative of a large corporation, charitable giving and philanthropy brings a wide range of benefits.

The joy of giving is infectious and good for the soul!

It’s about more than just generosity or doing a good thing for the sake of it. Charity work helps to bring people together, building communities to benefit all involved in a way that might not otherwise happen without philanthropy. It helps communities become more sustainable, helps to improve the quality of life, and brings love to families.

As Wayne von Borstel is fond of saying, “if I could help everyone be 20% more successful, and they gave half of that to some worthy cause, we could literally change the world forever”. If you need a simple reason to increase your effort when giving back to the community, let it be that.

That’s also what Wayne von Borstel is trying to do through his partnership with Development Associates International (DAI). He has been able to impact and change communities in many ways, which inspire people in those communities that are touched.

Why Charitable Work Matters

Wayne von Borstel is a business leader and entrepreneur who dedicated himself to better society for years.

In a professional capacity, von Borstel is the founder of von Borstel and Associates — a financial advisory organization dedicated to effectively managing the assets and lives of over 460 clients across the country. People come to the organization with a number of concerns, from asset management to wealth preservation and simply securing a better financial foundation for future generations. With decades of combined experience, Wayne von Borstel’s team of professionals help accomplish precisely that.

For von Borstel, his passion for helping people in any way developed at an early age. His mother lived to serve others. When he was 18 years old, his beloved grandmother asked him to invest her money, and he took what he had learned from that experience and made a career of helping people with their financial success. He later graduated from the graduate school of financial services at the American College with a Master of Science in Financial Services (MSFS). He has joined many industry organizations — including but not limited to the National Association of Insurance and Financial Advisors, Certified Financial Planners, and the Association of Estate Planners, among others.

Giving Back, One Step at a Time!

One shining example of Wayne von Borstel’s commitment to bettering the lives of as many people as possible comes from the charitable mission of von Borstel and Associates. von Borstel and Associates aim to help provide for as many underprivileged children as possible. Doing so affects children, their young families, and their communities. Not only do those people desperately need resources, but they also need something even more critical: hope.

von Borstel & Associates partnered with The Yasah orphanage. This orphanage located in Sumatra, Indonesia. It attempts to provide relief to hundreds of children — many were left destitute by the floods of the early 2000s. There are over 500 children in the attached school.

Through Development Associates International, in particular, Wayne von Borstel has given assistance to work with the founders of three grade schools and a high school in Bokondini, Eragayiam, and Dogobok, Papau. By partnering with the founders of the schools — Scotty and Heidi Wisley, they collectively came to model Christian values in a way that positively impacts the lives of hundreds of children and their families. They not only prioritize high-quality education, but also focus on assisting the indigenous population of the highlands by making families stronger and giving them hope for a better life for their children.

These schools educate more than 350 children between the 1st and 12th grades. These efforts help create communities based not on judgment (something that is unfortunately far too common in this life), but through grace and love.

So Wayne von Borstel, through his success, tries to lead by example. It is important to note that charitable contributions and philanthropy, in general, are not limited to the von Borstel and Associates company or his professional career. Wayne and his wife Marta desire to change the world for underprivileged children. To unlock the potential for educational opportunities to change their world, their lives, and their families that would not otherwise be possible. Wayne and Marta von Borstel give to communities across the globe, in Sudan, Afghanistan, Nepal, India, Medan Indonesia, Papua Indonesia, Honduras, and Bangladesh.

For Wayne von Borstel, these efforts signify something he feels he gets an opportunity to do, giving him joy, contentment, and the ability to look people in the eyes and see the potential of their lives with the help of education, love and giving. Wayne has been given an incredible amount of opportunity in his life, and he has done his best to make each and every 1 of those count. By trying to help those that are not as lucky as he has been.

Because of that, he wants to help as many people as possible succeed. We can change the world one piece at a time. Helping the world be a better place — “It is good for my soul!”

Originally published at https://www.bbntimes.com.

Wayne von Borstel — Parents: Protect Your Assets by Leaving …

( MENAFN- Digital solutions)

It is common for parents to put their children’s names on their assets. While there are several reasons why this practice has become popular, it carries significant risks that should be addressed and understood.

Wayne von Borstel, Oregon Financial Planner, Offers Advice

Wayne von Borstel is the founder and president of an independent financial planning firm, von Borstel & Associates Inc. The company maintains office locations in The Dalles and Portland, Oregon, and serves clients throughout the United States. Contrary to popular opinion, Wayne von Borstel urges his clients to avoid transferring assets into their children’s names too early or without good reason. Parents often do not realize how much control they give up by doing so.

Claims by Creditors

If an asset bears the child’s name, a creditor could put a lien on the parent’s property if that child is unable to fulfill their financial obligations.

Wayne von Borstel illustrates this point with a poignant story of an 80-year-old client who did just that. His client lived in the home his great-grandfather built. He had lived there for much of his life, and raised his children there as well. The man put the property in his son’s name because he feared that Medicare or Medicaid would take it away. Then, one day, the man was told by his son that he had to move. However, the reason had nothing to do with the fact that the man was old or incapacitated.

Instead, it was owing to the spending habits of his son and daughter-in-law. Because the couple could not pay their bills, the bank started foreclosure proceedings against the father’s property.

Snafus Regarding the Title

Putting a child’s name on an asset, such as real estate, provides them with the same rights as the parent. Therefore, the parent cannot sell or refinance the property without the express consent of the child. You would think is okay but is amazing how often family members think differently about wealth, assets and even life!

Perhaps even worse, the child could sell their share of the property without the parent’s permission. This scenario could put the aging parent in a vulnerable position without any control over their future.

Tax Liabilities

Another issue rarely considered by parents is the effect such a move will have on their child’s tax situation. The capital gains tax is one area where issues can arise because children lost the value of the jump up in basis at death. If inherited at the time of sale there’s no income tax if sold. If received as a gift when sold, the children would be liable for the capital gains tax as it relates to the interest they have in the home based on the parents’ cost basis which oftentimes is substantially lower than current values. So the gift of the asset to children could create tremendous tax consequences.

Personal Liability Issues

Unfortunately, there are often personal liability issues when a party is grievously injured in a car accident. For example, a child whose auto insurance policy does not provide sufficient coverage to pay for the injured person’s care could find themselves party to a lawsuit.

When a parent adds their kids’ names to their assets, it leaves the property vulnerable to a lien or other compensation should this scenario occur. So every lawsuit, bankruptcy, divorce or bad personal decision by the child would affect the parent’s assets and possibly net worth significantly.

Divorce Court

Depending on the specifics regarding pre-nuptial agreements and other legally-binding paperwork, the child’s portion of their parents’ assets could be subject to division should the child and their spouse seek a divorce. To be equitable in their judgment, many courts across the country focus on dividing the divorcing parties’ property in the most similar way possible.

As often happens in the case of a divorce, the opposing parties might need to agree with the inclusion of the property that a child technically shares with their parent. This leaves the property in a precarious position where the court could order it sold to satisfy the required division. As Wayne von Borstel notes, “every lawsuit, every bankruptcy, every divorce” affects those assets that the parent no longer controls. So, when financial troubles arise, or different beliefs are introduced, the chances of taking back that property are significantly reduced.

Wayne von Borstel earned his Master of Science degree in Financial Services from the esteemed Graduate School of Financial Services at the American College. In addition to being a proud member of the National Association of Insurance and Financial Advisors, he is also a valued part of the Portland Estate Planning Council and the International Association for Financial Planning, among other organizations.

Investment advisory services are offered through von Borstel & Associates, Inc., an SEC Registered Investment Advisor.

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Originally published at https://menafn.com.

We all want to be happy. But what does it take to achieve happiness, and can money really buy it? Forbes author and financial planning guru Wayne von Borstel takes a different approach to money management than other wealth-building mentors. One of his teachings is that advertisers in today’s market are good at putting on pressure, and you don’t need a majority of the things companies try to sell you.

Money Doesn’t Buy Happiness

It’s easy to get caught up in the cycle of buying things. We see something we want, we buy it, and then we’re happy for a little while. But, spending money is kind of like a drug and the “hit” you get wears off just as quickly, and the thing you bought loses its novelty and ends up getting lost in the shuffle with everything else. And then we start looking for the next thing to buy, and the cycle begins again.

Delayed Gratification Is a Phenomenal Skillset

Delayed gratification is the ability to resist the desire for immediate satisfaction or reward in lieu of a later benefit. Delaying gratification has been linked with higher success levels across various measures, including educational attainment, income, and relationship satisfaction.

The ability to delay gratification is linked with financial success, better mental and physical health outcomes, and lower stress and anxiety levels.

If you can delay satisfaction when you get the urge to buy something, you will be less likely to make an impulse purchase that you may later regret. Delaying gratification can be difficult, but it is a skill that can be learned with practice and will become easier over time.

The Boss Magazine: Wayne von Borstel’s “Four Pillars of Retirement”

If You’re Not Content Within, Material Things Won’t Help

You can be content with very little, or you can be discontent with a lot. It’s not about what you have, it’s about your state of mind, and it’s your choice. If you’re not content within yourself or with what you already have, material things won’t change that, and you’re not likely to be content with anything else you acquire. You’ll always find something else to desire, something else to want, because it’s in our nature as humans.

The key is to find contentment within yourself. Once you do that, you’ll be able to find happiness and satisfaction in your life, no matter what you have or don’t have. Contentment is a state of mind that allows you to be happy and satisfied with your life and experiences.

Invest In Memories

Experiences are something that you can always look back on fondly. Even if you don’t have any material possessions from your experiences, you’ll always have memories of what you did, where you went, who you were with, and what you felt at the time.

Investing in experiences also builds memories and creates moments you’ll cherish for the rest of your life. And unlike material possessions, those won’t fade over time — they’ll only become more precious.

So when you’re thinking about how to spend your money, ask yourself if it’s something that will give you lasting happiness — or if it’s just a temporary fix. Chances are, it’s better to invest in something you can do versus something you can have.

Do Something New

When you’re in a rut, it can feel like you’re stuck in a never-ending cycle of unhappiness. But one of the best ways to break out of that cycle is to try something new instead of buying an object that takes up money and space. Doing something different can shake up your routine and help you discover new things that make you happy.

Of course, it can be challenging to try something new. It can be scary to venture out of your comfort zone, especially if you’re unsure what to expect. But even taking small steps to get out of your bubble and try different activities can help you create new memories and cultivate happiness.

Give To Others

Making other people happy can have a ripple effect and make everyone around you feel great too. It’s always good to know that you’ve made someone else’s day a little bit better, and this feeling won’t fade like the excitement of buying something new or spending money on luxury services.

Consider how you could give back and what kind of financial and hands-on support you can offer. One easy way to give back is to donate to charities that are important to you. You can also volunteer your time to support a cause that’s close to your heart. It’s always a good feeling to know you’ve helped someone out, especially if you weren’t expecting anything in return.

About Wayne von Borstel

Wayne von Borstel, CFP®, MSFS, CHFC®, CLU®, has been interested in money since his late teens and is the Founder and President of veteran financial planning firm von Borstel & Associates, Inc. In 1985, Wayne began to offer his skills to wealthy families in his area to understand better their financial circumstances and how to maximize their assets and return on investments.

He maintains membership with the following associations:

• International Association for Financial Planning
• National Association of Insurance and Financial Advisors
• Portland Estate Planning Council

Wayne and his wife, Marta, are also avid philanthropists who enjoy providing financial and educational opportunities to impoverished and underprivileged children in countries like Bangladesh, Papua, Indonesia, and India. They regularly visit the orphanages they support to provide hands-on help, funds, and guidance to the staff and children. Wayne von Borstel’s Ideamensch can be found here. Wayne and Marta enjoy gardening and visiting with family when not working or travelling. Learn more about Wayne von Borstel and von Borstel & Associates, Inc. at https://vonborstel.com/.

Originally published at https://thebossmagazine.com on March 21, 2023.

When it comes to financial management, investors need to be discerning and careful about the broker they choose to work with. Successful investing requires looking at the financial markets from various perspectives and carefully managing different types of investments to build a strong portfolio. This calls for a trusted broker with the client’s best interests at heart.

However, sometimes it can be challenging to find this type of expertise. Leading Portland financial professional, Wayne von Borstel, has some advice about evaluating different brokers and selecting the best one.

What Oregon investors need to know about finding the right broker

When people start looking for a broker to help them with their investments and financial planning, it is critical to find a broker who genuinely wants to help the investor succeed. However, it can be challenging to find a broker who places the client first instead of just paying lip service to the idea. After all, brokers are compensated for the financial advice they offer, and many might be motivated by profit first and helping clients second. There are a few areas interested investors can investigate to help them find a broker that will work for them.

Look at the importance placed on education.

Successful financial planning requires considerable insight into how financial markets work, how the different investments work, and how to balance a portfolio. However, it is optional for brokers to secure various advanced degrees and certifications.

Brokers can make money without it.

However, looking for brokers that emphasize education similarly can help clients identify the ones who genuinely want to improve themselves. As Mr. von Borstel notes, earning these certifications helps him build his broad knowledge of investments and financial planning to help clients with various goals. Instead of trying to herd clients towards a particular outcome, he can meet them where they are and work towards what they want to achieve with their money. A broker will likely encounter ten different financial situations and goals in a room with just ten other people. Those who prioritize education show their interest in helping each client.

Value flexibility and investment freedom

A second criterion to look for in a broker is flexibility and investment freedom. Many people in the industry treat clients like a herd of cows. They have a specific product they want to sell or a particular way to structure a portfolio that doesn’t reflect the freedom and flexibility clients need to achieve their personal goals. Only some clients want the same products or treatment. Many investment professionals need more education to appropriately guide clients who do not fit their predetermined mold.

Look for a broker that offers clients ample financial freedom. This will often come from self-employed brokers, as they will be unrestricted by the rules and guidelines from elsewhere in their large organization, which force their investment protocols in a particular way. On the other hand, self-employed brokers have the flexibility to advise their clients as they see fit. The broker should offer advice based on the client’s needs and not have an interest in convincing someone to invest in a particular area or binding them by specific rules.

A relationship of trust

Trust is one of the most critical factors clients should look for in an investor. When clients ask someone else to help them manage their money, that relationship calls for considerable faith that the broker will look out for the client. In addition, it requires trusting the broker with retirement and financial goals. Therefore, investors should be particularly selective with their potential brokers until they find someone they can have a relationship with based on this trust.

If a client does not trust their broker, it will hinder the entire investment process. Clients need this certainty in their broker’s values to second guess their broker’s recommendations and feel reluctant to act quickly. When the client feels the broker has their best interest at heart, it becomes easier to act immediately on their advice and make the optimal financial decisions.

HNGN article: “Financial Planner & CFP Wayne von Borstel on Why Married Women Should Plan for Widowhood”

Finding the best broker

The basis of investing successfully with a broker revolves around the relationship between the broker and the client. Finding a broker who will place the client’s needs first and work to help the client achieve their financial goals is a valuable partner that can make all the difference in financial planning.

Investors should look for a broker with an investment strategy focused on helping individual clients plan for the future. These brokers work in firms that focus on the individual’s experience instead of herding them toward a specific point. This setup will give investors the best chance to find an investment relationship that is right for them.

From Portland, Oregon, and across the country, those interested in finding a broker to help them achieve their financial goals should take these tips from Wayne von Borstel and use them to begin their financial journey. More financial advice can be found on Wayne von Borstel’s Youtube channel.

About Wayne von Borstel

Wayne von Borstel is the president and founder of von Borstel & Associates, an investment company in Portland, Oregon. His success in financial planning and management started back as a teenager when he first became interested in investments. Since then, he has built an industry-leading career and business, helping people learn how to manage their money better.

Wayne von Borstel carries a number of important professional designations, including being a Chartered Life Underwriter, a Chartered Financial Consultant, and a Certified Financial Planner/ CFP Practitioner.

Mr. von Borstel works to bring financial knowledge to others in the Portland area by teaching classes and looking for opportunities to educate anyone interested in achieving more with their investments. His interest in education has even led him to fund schools in various parts of the world for underprivileged children.

With this drive towards helping people inform themselves and make the best possible decisions with their money, Wayne von Borstel wanted to break down precisely what investors should look for in a broker they can trust with their financial planning.

Originally published at https://www.hngn.com on March 21, 2023.

Wayne Von Borstel Explains How to Take Financial Risks — MineBook

Are you behind in your financial plan and trying to catch up? Some people believe that the only way they can create more returns is to take bigger risks. However, as experienced retirement & financial advisor Wayne von Borstel in Portland, Oregon, explains, a greater risk doesn’t always generate a greater reward.

As the founder and president of Oregon-based financial planning firm von Borstel and Associates, von Borstel has helped more than 450 families across the USA achieve happier, simpler, and more successful financial lives.

Here, we’ll explore von Borstel’s stance on short and long-term risk-taking and the benefit of taking risks that align with your overall financial plan.

Taking Risks In Financial Planning

While short-term investments can bring returns, von Borstel warns that taking short-term risks that don’t fit your financial plan or who you are will likely lead to failure.

Short-term investments typically last up to 5 years but can last as few as 3–12 months. Taking risks in the short term will place your investment at the whim of the USA and global markets, and we never know what may lie around the corner.

If you aren’t meeting your financial goals, the best step to take might not involve taking greater risks. Investing harder doesn’t make sense if investing this way doesn’t align with your risk tolerance. Thankfully, you can take other, more risk-averse approaches alongside prudent, long-term investment.

According to von Borstel, a combination of the following four strategies should help you position your finances better:

1. Spending less.
2. Saving more.
3. Considering a later retirement.
4. Building a personalized, diversified investment portfolio.

Wayne von Borstel On The Value Of Strategic Investment

Investment is a key pillar of most financial plans, but it’s important to invest your assets according to a clear strategy based on factors such as your risk tolerance, time horizon, and goals.

von Borstel explains that risk can bring a return when:

• You are prudent.
• You are systematic, unemotional, and diversified in your approach.
• You have a long-term mindset.

Expert investment management from dedicated, knowledgeable advisors, like the team at von Borstel and Associates in Oregon, can help you build and maintain a portfolio that aligns with your needs and gives the greatest return for your risk tolerance. This plan should involve crucial elements such as an emergency fund or a conservative bucket.

How Can You Align Expectations With Reality?

For each investor, finding the right balance between risk and reward is critical. An important factor in choosing the right risk level for you is ensuring your expectations match reality.

This means understanding how hard you want to work to set aside appropriate funds and what you are willing to accept in the event of potential investment outcomes. von Borstel notes that we don’t always need to strive for more and that, sometimes accepting less is a good choice.

When Does High-Risk Investment Make Sense?

Investing more aggressively makes sense if this style of investing fits your outlook and you have a long-term perspective. How will you know if an aggressive, high-risk approach to investment suits you? von Borstel says you’ll have a “gut instinct.”

And how long is “long term?” The financial expert advises that looking 10 years ahead isn’t long enough and that most people should be thinking about investment over a lifetime. Some are even looking past their lifetimes and investing for the next generation: von Borstel describes clients in their eighties who are investing for their grandchildren.

von Borstel emphasizes that we should take risks armed with knowledge, which comes from understanding:

• Why you are investing.
• How the investment aligns with your risk tolerance.
• What the investment will bring to your financial plan in the long term.

Bringing these elements together can mean a greater chance of success when taking risks and better financial prospects overall.

More About Wayne von Borstel In Portland, Oregon

Wayne von Borstel is a wealth expert and author with almost four decades of expertise in the US financial sector. He divides his time between his firm, von Borstel and Associates (which has offices in The Dalles and Portland, Oregon); assisting local, national, and international financial organizations; and philanthropic work.

von Borstel’s interest in finance began in his teens when his grandmother allowed him to invest on her behalf. He launched his career in 1985, providing financial advisory services to families and wealthy individuals. After 10 years as a representative for Mony Mutual of New York and 19 years as a representative for LPL Financial, von Borstel founded the Northwest Planned Giving Initiative, followed by von Borstel and Associates.

In addition to his master’s degree in financial services, which he earned at The Graduate School of Financial Services (The American College), von Borstel is a Chartered Financial Consultant (ChFC), Certified Financial Planner (CFP), and Chartered Life Underwriter (CLU).

von Borstel and his wife Marta share a passion for creating educational opportunities for underprivileged children. The couple has sponsored the development of schools in Afghanistan, Bangladesh, Canada, Honduras, Nepal, and Sudan.

The von Borstels volunteer at the schools in India and Papua, engaging with the teachers and communities the schools serve. They also volunteer at an orphanage in Medan, Indonesia, which they financially support. The orphanage houses hundreds of kids who lost their friends and families due to the 2004 tsunami.

Learn more about Wayne von Borstel.

Originally published at https://minebook.me on February 22, 2023.

Wayne von Borstel Debunks the Myth That More Money Equals Success

Does earning more money equal financial success and happiness? According to wealth expert, author, and financial and retirement advisor Wayne von Borstel in Portland, Oregon, this is a myth. Financial success has little correlation with the amount of money you make and has everything to do with how you plan and how much you save.

von Borstel has decades of experience in helping people find happiness through living a simpler but financially healthier life. Here, we’ll share his insights into why more money doesn’t necessarily mean more success.

Money Can’t Buy Happiness

Can money buy happiness? Statistics from the World Bank Group show that the U.S. is the richest country in the world, with a gross domestic product (GDP) of $22.996 trillion. Despite this, the U.S. sits at number 19 in the World Population Review’s latest ranking of the happiest countries in the world.

von Borstel explains that this disconnect relates to U.S. society’s overwhelming obsession with having more. As U.S. citizens, we live in a country that, through media and advertising, constantly tells us we need more: more wealth and material possessions. Sometimes, this means buying things we can’t afford at the expense of our financial stability.

von Borstel argues that having more won’t make us happy, and the belief that more money equals success and contentment is not only a myth but also a trap.

Wayne von Borstel on the Myth of More

If you believe that more money will help you achieve happiness, you’re unlikely to reach this goal. As von Borstel notes, in a more mindset “there is never enough.” No matter how much money you make, you can always make more.

Every time you think you’ve achieved your goal, you’ll feel you need to make even more money to unblock your path to happiness.

Despite exceeding his own financial goals many times, the Oregon financial expert emphasizes the importance of finding happiness where you are. von Borstel poses the question: “If I don’t learn to be content today, when am I ever going to be?”

The Stress Caused by a Debt-Fueled Life

Living in a society geared towards constantly craving more can lead to a fixation on what we don’t have. This may leave us resenting those who have more than we do and struggling to keep up with the Joneses.

The truth is, often, those we deem financially successful are the least content. von Borstel explains that a blind fixation on more can create a lifestyle fueled by debt, leading to more stress, more strife in our relationships, and less happiness overall.

Rejecting the myth that happiness comes from a cash flow obsession and creating a clear plan for financial success is crucial to protecting our happiness and avoiding a debt-fueled life.

Financial Expertise From Wayne von Borstel in Portland, Oregon

The key to long-term financial success and leading a happy life is often taking a conservative, prudent, and wise approach to wealth planning.

From the Oregon offices of von Borstel and Associates in Portland and The Dalles, von Borstel and his team work closely with clients across the U.S. to ensure they are debt free by retirement (that includes paying off the mortgage).

Giving up the myth that more money equals success doesn’t mean abandoning your financial goals. On the contrary, von Borstel notes that it’s easier to reach the next goal if you feel content.

However, as with most things in life, acting without a plan is unlikely to bring us closer to our goals. Without clarity in the financial process, the chances of us finding contentment are low. Instead, von Borstel suggests prioritizing financial readiness through intentional steps.
Every step taken towards the goal of debt-free retirement means more contentment, less stress, and greater purpose in our day-to-day lives and relationships.

About Wayne von Borstel

Wayne von Borstel has nearly 40 years of experience assisting high-net-worth clients in positioning assets and leading happier lives. He is currently the president and founder of the independent financial planning company von Borstel & Associates. The company serves clients across the country from its two Oregon offices in Portland and The Dalles.

The Oregon company’s unique Vision to Wealth Process consists of eight steps to manage your wealth, from guided discovery and development of a personal success strategy to plan implementation and ongoing support. Investment advisory services are available through von Borstel and Associates, Inc., a U.S. Securities and Exchange Commission (SEC) Registered Investment Advisor.

Before founding von Borstel and Associates, von Borstel was the creator and president of the Northwest Planned Giving Initiative and a long-term representative of both LPL Financial and Mony Mutual of New York.

von Borstel holds a master’s degree in financial services from The Graduate School of Financial Services at the American College. He is a Chartered Financial Consultant (ChFC), Chartered Life Underwriter (CLU), and Certified Financial Planner (CFP).

von Borstel is currently a member of the Portland Estate Planning Council, the International Association for Financial Planning, and the National Association of Insurance and Financial Advisors. He also teaches aspects of financial planning through his company’s monthly coaching calls.

Outside of his professional achievements, von Borstel is a dedicated philanthropist, helping children from underprivileged backgrounds access education. He and his wife Marta have funded the development of schools across various countries. The couple also provides financial support to an Indonesian orphanage that houses children who lost their families in the 2004 tsunami.

Learn more about Wayne von Borstel.

Originally published at https://www.vbtcafe.com on February 19, 2023.

Wayne von Borstel on How to Be Happy With Your Money Situation — Widget Box

Across 40 years of experience in the U.S. finance and investment sector, Wayne von Borstel has spent a career helping others lead better lives through successful wealth management. Both in conversation with his clients and in his book, “The Truth Project: Finding the Courage to Ignore Wall Street,” he sheds light on the minefield of financial myths that hold many of us back from achieving a fulfilling retirement.

Here, the wealth expert and author:

• Unpacks the common misconception that many U.S. citizens can’t afford to save.
• Explores the concept of avoiding debt and only spending what you have.
• Explains how to be happy with your current financial situation.

How Wayne von Borstel in Portland, Oregon, Serves U.S. Clients

von Borstel is the founder and president of von Borstel and Associates, an independent financial planning company in Oregon. From the firm’s offices in Portland and The Dalles, he and his dedicated team help clients across the U.S. align their values, visions, and wealth.

The firm partners with select individuals and families who seek superior financial guidance. Through von Borstel and Associates’ eight-step Vision to Wealth Process, clients gain clarity on what matters most and enjoy exceptional integrated wealth management services.

Busting a Common Financial Myth: “I Can’t Afford to Save”

While some believe that they can’t afford to set money aside regularly, von Borstel explains that money management is all about what you prioritize. Often, when we don’t prioritize saving, it’s because the world around us is convincing us that spending our money will make us happy.

Figures from the U.S. Bureau of Economic Analysis show that consumer spending in the United States (private expenditure on goods and services) reached an all-time high of $14,178.56 billion in Q3 of 2022. A lot has changed since the mid-twentieth century, when consumer spending sat at a record low of $1,403.69 billion (Q1 of 1950).

Whether it’s a “nicer” house, a new vehicle, or a trip to Disneyland, today’s obsession with spending leads us to make purchases that may not be prudent or affordable. With payment plans, if we can’t afford something outright, it can still be ours. As a result, many people could find that large amounts of their budgets go towards repaying debt.

Wayne von Borstel on Learning to Be Content With Less

von Borstel compares the effect money has on us to a drug and describes the U.S. as a nation addicted to spending money: His term is “moneyholics.” The addiction will drive moneyholics to spend more and more over time to achieve the same level of satisfaction and joy that spending first brought them.

The problem, von Borstel explains, is that if money is all that makes you happy, you’ll never truly achieve happiness. There will always be more money to make and more to spend. The key to avoiding this addictive cycle, and prioritizing saving, is learning to be content with less.

It may mean going against the prevailing U.S. culture of credit card spending and the idea that more is more, but von Borstel argues that the impact of choosing to prioritize saving can be life-changing.

Shifting your priorities to emphasize saving money may necessitate changing ingrained habits. von Borstel shares how, in his experience, not everyone is willing to make those changes to improve their financial position and would rather spend carelessly without thinking about the bigger picture. However, people’s mindsets often shift when they reach retirement age.

People who prioritize saving care about the impact their choices will have in the long term, rather than just focusing on the here and now.

Wayne von Borstel’s Three Tips for Prioritizing Saving

If your mission is to make saving money a priority, these are von Borstel’s top three tips:

1. Analyze where you spend your time and money to understand your current priorities. This may mean a shift of habits to realign your priorities with saving.
2. Calculate how much you need to live on and get into the habit of spending only what you have.
3. Learn to put some money away for yourself first and live on the rest.

For most, priorities exist by default and not design. Redesigning your priorities and implementing a wealth plan can lead to financial success and a happier life overall. This is where the services of an experienced financial advisor can come into play.

About Wayne von Borstel

Finance and helping others find happiness are lifelong passions for Wayne von Borstel. At the age of 18, his grandmother allowed him to invest her money, and, in 1985, he launched his career offering financial advice and analysis services to wealthy clients and families.

Before launching von Borstel and Associates, von Borstel spent 10 years as a representative for Mony Mutual of New York and 19 years as a representative for LPL Financial. He also founded the Northwest Planned Giving Initiative.

von Borstel holds a Master of Science in Financial Services (MSFS) degree from the Graduate School of Financial Services at The American College. Additionally, he holds several professional designations: Chartered Financial Consultant (ChFC), Chartered Life Underwriter (CLU), and Certified Financial Planner (CFP).

You’ll often find Wayne von Borstel in Portland, Oregon, supporting his firm’s clients. He also assists key financial organizations and is a member of the Portland Estate Planning Council, the National Association of Insurance and Financial Advisors, and the International Association for Financial Planning.

von Borstel and his wife Marta are dedicated philanthropists who believe in helping underprivileged children gain educational opportunities, both locally and internationally.

The couple has funded the development of multiple schools in Canada, Bangladesh, Nepal, and many other worldwide locations. They also give financial aid to an orphanage in Medan, Indonesia, that supports children who have lost their families as a result of a devastating tsunami.

Learn more about Wayne von Borstel.

Originally published at https://www.widgetbox.com on February 19, 2023.

It is a sensitive topic that few people want to address. Bad things do not happen to us; they happen to others! Right? After a husband dies, a widow tends to withdraw into her little world. She will struggle to adjust to the new reality.

It’s a natural grieving response to losing someone who may have been a lifetime partner. Widows are under great emotional stress. Their brain is functioning at less than 60% cognitive ability. Initially, friends and family wrap around the widow, but then they return to normalcy, leaving the widow with an empty house, an empty bed, and a broken heart.

Oregon-based certified financial planner, Wayne von Borstel, thinks women should take preemptive steps while their husbands are living. To protect and offer their future selves the flexibility to process emotions and move forward at their own pace. During his 37 years of helping people, talking with — and listening to — many women who wished they had paid attention to finances when their husbands were alive.

There are many exceptions, but with older couples, men take care of the finances. Women are busy with families, community, life, and those they love.

“Many widows told me I would be doing my married female clients a great service by educating them. Forcing them to listen to the experiences of the women who had suffered the death of their husband and be prepared,” von Borstel said. However, he confessed, “some of those women admitted that even if I approach them with this advice while they were still married, they probably won’t have listened because they were content and being alone seemed so improbable and far away.”

Wayne von Borstel Listened to Women about What Worked for Them

Rather than simply suggesting an action plan for women, he listened to widows who took preemptive steps and those who didn’t. From this, he has an idea of what worked and what didn’t work.

One thought he heard from widows is to build a trusted team. This team may include a family doctor, CPA, financial planner, and estate attorney. The widow should build a relationship, participate, and know who they are. Know who she can trust!

Other women made plans to avoid isolating themselves and turning inward. Some uncluttered their lives, deciding they didn’t need as many material possessions. Each dealt with their sorrow, loneliness, and emptiness differently. However, the women that enjoyed life the most were the ones that found something outside of themselves to participate in.

Steps That Every Married Woman Can Take Now

Based on what Wayne von Borstel has learned from his widowed female clients — professional experiences and family experiences — he recommends that married women consider advice from his female clients.

“There was some uniformity in the responses,” he said — many women simply haven’t considered what they would do if their husband, on whom they may be financially and emotionally dependent, were to die tomorrow.

To avoid getting blindsided, women should realize that they will likely outlive their husbands. They should get involved in family finances and know the family portfolio, the allocation, and the manager.

Wayne encourages women to “sit in on meetings with the couple’s financial advisor, at least occasionally… Be aware of accounts, checkbooks, and processes her husband relies on while they’re both alive.” This will help her function independently at his death.

If women feel lost when it comes to money, von Borstel suggests meeting with their financial planner and asking a list of questions. They could also participate in a webinar/class on finances and sit in on meetings with their husband. It may be boring or seem unimportant at the time, but if you are widowed — it will be critical information!

Every wife should understand what her income will look like when her husband dies. von Borstel knows families where the husband’s pension disappeared when he died. If the cash flow is insufficient, plan to fill that void. This can be through work, life insurance, or saving more while the two of you are alive. Save enough to at least support the survivor of the couple — most often the woman.

We dread thinking about death, especially of a loved one. But the better prepared we are, the more preemptive we are with the actions we take, the better we will be no matter how far it seems or how healthy we appear as a couple.

Wayne von Borstel’s Approach to Helping Women Plan for “Being Alone”

von Borstel admitted that he often meets his clients after they become widows. His goal is to encourage more women to speak with a financial advisor to help them develop a plan while they are still married, healthy, and happy.

When a widow comes to see him, his goal is to help develop a strategy to find their new “normal” as soon as possible. They need time to heal emotionally (this can take years), adjust to their new “normal” and get healthy again. Initially, it seems like this will never happen! But having a plan, understanding your circumstances, and being aware of what you have will help you navigate that path to a new normal with less stress, worry, and frustration.

They need time to grieve, and we should always make space for that as they encounter anger, grief, guilt, fear, and everything in between, and know that amid the emotions — however understandable — it’s often not the best time to make decisions. Despite that, as we go forward with those women finding themselves in a circumstance they never dreamt would be true, we gradually build and make choices to secure their future.

He said of his work with widows in Oregon, “I try to inspire women, help them find a purpose. Each person is different — they have a unique financial DNA, so I have to be cautious and make sure I’m listening closely to what she fears most. There may be so many facets to her situation that she finds it hard to identify 2 or 3 most pressing issues.” So his job is to help clients set priorities in their unique circumstances.

As von Borstel described his relationship with his clients: “I provide the plan for them to move forward and create a new life. They knew they could trust me to tell them the truth, even if we occasionally disagreed or became frustrated with the options we had to sift through and contemplate. They acknowledge that what I told them was what they need to be thinking about and they had to deal with — even when they resisted it because it was difficult.”

In closing, Wayne says, “I understand that many women run their family’s financial circumstances. Maybe this article should be for the spouse not in control of the finances. But Wayne said, “My heart bleeds for the women emotionally destroyed at their husband’s death. Specifically, those who have not planned well!”

Investment advisory services offered through von Borstel & Associates, Inc., an SEC Registered Investment Advisor.

Originally published at https://www.hngn.com on December 21, 2022.

Concerned parents have been advising this for years — such a universal issue bears repeating. Don’t spend more than you make.

t’s easy to say but hard to do because there’s so much we want.” Financial advisor Wayne von Borstel recently shared that not applying this concept leads to unhappiness, strife, and even divorce. How can individuals get this tendency under control and their budget back to their financial goals?

Why do people spend more than they make?

Wayne von Borstel says, “We don’t pay attention to what we’re spending, what we want, or a budget … we tend to spend when we should not. We want more than we can afford.”

Many people would agree with him. Individuals need to realize that, as he says, “There’s a stressor called money,” which can cause a lot of discord in what would otherwise be a harmonious relationship. Unchecked spending lowers the household’s net worth while increasing debt. If the primary breadwinner suddenly loses the capacity to work because of job loss, death, or disability — you have a financial disaster! Borrowing is assuming that we can afford tomorrow what we cannot afford today.

Quite often, people spend more than they make because they don’t understand their finances. They let their spouse handle it. That’s a bad idea, says von Borstel, regardless of how a couple divides responsibility.

Wayne von Borstel found this to be the case with many widowed women he has helped. Speaking frankly, he said,” married women should learn what is going on in their lives, and their finances. Sit in on meetings with the couple’s financial advisor, at least occasionally, if not regularly, and ask questions without fear of sounding uninformed.” Each partner has a right to know about their financial health; if the spouse is unwilling to share that information. That’s a red flag for the health of the financial plan and the family.

Everyone, especially those who tend to overspend, should develop a budget and financial plan that works for them. The moment of joy when they buy something isn’t worth the overspending that leads to debt and stress

Wayne von Borstel says families spending too much should take the following steps.

Sticking to a budget can be challenging at first but not unattainable. People should be able to have what they want but, as von Borstel points out, “we should have a process that allows us to track what we can afford, and is reasonable, based on what we have.” The world tells us we deserve it! That is not true. The world tells us that whether or not we can afford it, they will help us get it! That is a terrible financial understanding to live in your life. It will lead to strife — both personally and in your family.

Over spenders should ask themselves these Six questions:

Are they eating out, and how much are they spending? That includes the daily lattes and work lunches for those with expensive habits. Some people can afford such treats. But most people only think they can because they haven’t paid attention.

Do they pay for memberships, streaming, phone apps, cable, and services they don’t use? They should evaluate what they spend on their virtual lives. Those who haven’t been paying attention may be surprised at how much they spend on items like this.

What’s the travel budget look like? Some people love to travel a little too much and could find adventures closer to home or ways to travel that are less expensive.

Can we do more ourselves? Learning to do household chores can save a lot of money if you have the time. Installing a dishwasher or tiling the backsplash is not as hard as it may seem.

Are we buying things we don’t need? Never go to the grocery store without a list — and stick to it. Retailers and brands design products and displays to get people to spend impulsively.

Have you developed habits that make it too easy to buy on credit? Switching to cash makes spending money feel more concrete, people tend to spend significantly less using cash than credit.

Families can cut expenses by looking at the feelings that spending triggers

People should think about why they spend more than they make. With over 37 years of helping clients make financial plans, Wayne von Borstel has heard people admit that at least some of their spending comes from feeling down, lonely, inadequate or not loved.

Whether someone is constantly getting plastic surgery, always has to have a car better than their neighbors, or wants to have the best travel pictures on social media, a lot of spending comes from this need to be accepted. When people take a moment to look at these feelings they can often get a better handle on what they spent in addition to making a plan, they should ask themselves precisely why they desire this particular item and what emotions this purchase evokes — anticipation? Joy? Remorse?

Is this a want or a need? Can you define the difference between a want and a need?

Shopper should question whether the purchase will improve self-esteem for more than a fleeting moment or they’re just trying to keep up with the Joneses. It’s essential to be aware if this purchase will bust the budget, and know how much interest there is accruing with an unnecessary acquisition.

Those who constantly spend more than they make must look honestly how it’s affecting their finances. Buying on credit literally decreases your lifestyle! This could have been money in the bank that allowed them to afford more things outright if they’d had a little patience. Deferred gratification is a phenomenal tool to financial success!

“If you can’t afford it with cash, don’t buy it.” von Borstel cautions. So, we should always spend less than we make!”

Investment advisory services offered through von Borstel is the bank an SEC registered investment advisor.

Originally published at https://bmmagazine.co.uk on December 19, 2022.

By Author and Financial Planner Wayne von Borstel

Portland, Oregon-based author, and independent financial planner Wayne von Borstel wants to help people retire with comfort and security. Many people do not have savings and are not putting money away for the future. von Borstel suggests that delayed gratification and avoiding the need to have the next, best things in life make it far easier to have a good retirement with fewer worries.

“In order to get to that point,” says Wayne von Borstel, “people need to intentionally have four specific goals,” which he calls the four pillars of retirement. By following his method and focusing on the seriousness of addressing financial concerns way before nearing retirement, many more people will have the option to choose their retirement lifestyle. Below is what he recommends to have financial security in retirement.

Pillar 1: Emergency Fund

The idea of having a safety net is not new. It is also one of the areas that a lot of people ignore or avoid. Either they do not have the money to set aside or are not intentional about having long-term financial success. Or they decide to spend that money another way instead of hanging onto it for the proverbial rainy day when something goes wrong.

Wayne von Borstel knows that it can be challenging to put money aside, but even a modest safety net can help. Ideally, von Borstel recommends that people have an emergency fund equal to 6 months of living expenses. However, even a few thousand dollars can help when an emergency comes. Saving something is always better than saving nothing, and delayed gratification is one of the ways von Borstel suggests to help create cash reserves.

Pillar 2: Conservative Bucket

It’s tempting to select the highest-risk category for a portfolio with the idea of seeing greater returns; it can also be risky. If the markets take a sudden downturn, people with only high-risk investments can find that they are losing too much of their retirement. Putting a portion of the portfolio in lower-risk investments, such as bonds, can make it much easier to weather economic storms and address financial issues as they come. Being too conservative may not get people where they want, principally if they cannot save as much as they would like or start a little later in life. But using a percentage of their portfolios in conservative assets is a hedge against significant market downturns, says Wayne von Borstel, because it protects those who have already retired or are close to retirement financially. We should have five years of what we need out of your portfolios to live on in a conservative bucket because it protects us from that inevitable downturn in markets.

Pillar 3: Capacity to live off of 3% of Portfolio

Setting a realistic goal for retirement is another area Wayne von Borstel is deeply passionate about. Anyone who plans to retire should consider how much they need. The goal is to have enough to enjoy retirement and not be worried about our lifestyle, but that means different things to different people. Getting by with Social Security and a little investment is enough for some. Other people want much more than that and will need to save more. Usually, it’s best to calculate the money needed for retirement and then plan to save more than you think you might need because of the rising cost of inflation and living longer. Running out of money in retirement would be upsetting and could put the elderly at risk of homelessness, food insecurity, and other problems. These issues are not what people in their retirement years want to worry about, and retirement planning reduces the risk of struggling once we get there. We should have the capacity to live on less than 3% of our financial assets.

Pillar 4: Zero Debt

Not having debt in retirement is another noteworthy point von Borstel makes. If a person gets to retirement age with a house payment, a car payment, and credit card debt, for example, it can be difficult for that person to have enough money. Your cash flow is eaten by credit card and bank profits. The less debt the person has when they retire, the more their retirement will be safer from inflation and life events. If they do not have much saved, it will be easier if there is no need to spend a lot on debt which hopefully would keep them secure and able to cover their food and housing expenses for the long term.

Some people still have a house payment when they retire or purchase a new vehicle. Those kinds of debts can work in retirement but whether they are good ideas depends on the person, how much they have saved, and how large the debt is. For most people, having no debt is the best and safest way to protect their financial future. Having debt can put them at too much risk, especially if they do not have a significant amount saved.

About Wayne von Borstel Wayne von Borstel is the president and founder of von Borstel and Associates. This financial services planning firm has offices in both Portland and The Dalles, Oregon serving clients all around the country. von Borstel is the author of the Truth Project: Finding the Courage to Ignore Wall Street. He holds a Master’s degree in financial services (MSFS) from the graduate school of financial services at the American College and is a Certified Financial Planner. Investment advisory services are offered through von Borstel Associates Inc., an SEC registered investment advisor.

Originally published at https://thebossmagazine.com on November 8, 2022.